May 15, 2014

WHICH IS IDIOTIC:

The Fair Tax is a proposed alternative federal tax system that would replace all current federal taxes--income, payroll, and corporate--with a new consumption (or sales) tax to be collected on all new items purchased. While such a consumption tax has much to recommend it from an economic point of view (better incentives, fewer distortions), I cannot support the Fair Tax as long as its backers continue to make implausible claims for their proposed reform.